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ESB Should Be 'Breakeven Company', TD Says

He was speaking amid an increase in energy bills for most people
Jack Quann
Jack Quann

7:50 PM - 26 Jan 2022



ESB Should Be 'Breakeven Compa...

News

ESB Should Be 'Breakeven Company', TD Says

Jack Quann
Jack Quann

7:50 PM - 26 Jan 2022



One TD says the Government should follow Spain's example and cut VAT on energy bills.

People Before Profit TD for Cork North-Central, Mick Barry, says a law could also be passed to make the ESB a 'breakeven company'.

He was speaking amid an increase in energy bills for most people.

Deputy Barry says there are several options here.

"They could follow the example of the Spanish government who - under pressure from their people - cut the VAT rate by more than half.

"They could introduce a maximum price per unit... they could increase the Fuel Allowance - and, here's a big one, they could put the ESB in the spotlight.

"ESB made a year-on-year profit of €363m - used to be the way that the ESB had a mandate to be a breakeven company.

"Imagine the kind of cuts that could be introduced if that was re-introduced".

He says such a move could be done in the Dáil.

"Legislation could be passed on the floor of the Dáil to change the remit of the ESB and to instruct them to operate on a breakeven basis, instead of recording these super-profits.

"This is an issue now which isn't just hurting people a bit in the pocket.

"There's families that I know who are having to make choices as to whether they feed the family or whether they heat the house."



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Breakeven Company ESB Energy Bills Mick Barry

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